Absci Co. (NASDAQ:ABSI) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its stake in shares of Absci Co. (NASDAQ:ABSI) by 82.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 54,900 shares of the company’s stock after selling 255,126 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Absci were worth $144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABSI. Barclays PLC raised its stake in Absci by 379.6% during the 3rd quarter. Barclays PLC now owns 131,504 shares of the company’s stock worth $503,000 after acquiring an additional 104,083 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Absci by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,379 shares of the company’s stock worth $189,000 after acquiring an additional 6,409 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Absci during the 4th quarter worth $27,000. Alpha Cubed Investments LLC acquired a new stake in Absci during the 4th quarter worth $26,000. Finally, SG Americas Securities LLC purchased a new position in Absci during the 4th quarter worth $111,000. 52.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ABSI shares. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Absci in a research report on Wednesday, March 19th. KeyCorp raised their price objective on shares of Absci from $5.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 16th. Guggenheim reissued a “buy” rating and set a $10.00 price objective on shares of Absci in a research report on Thursday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Absci in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.40.

Absci Stock Down 1.7%

Shares of NASDAQ:ABSI opened at $2.91 on Thursday. The company has a market cap of $371.16 million, a price-to-earnings ratio of -3.13 and a beta of 2.19. The firm’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $3.35. The company has a quick ratio of 5.63, a current ratio of 5.63 and a debt-to-equity ratio of 0.01. Absci Co. has a fifty-two week low of $2.01 and a fifty-two week high of $6.33.

Absci (NASDAQ:ABSI) last issued its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.07 million. Absci had a negative net margin of 2,321.56% and a negative return on equity of 46.56%. As a group, equities research analysts predict that Absci Co. will post -0.89 earnings per share for the current year.

Absci Profile

Absci Corporation operates as a data-first generative artificial intelligence (AI) drug creation company in the United States. The company combines AI with scalable wet lab technologies to create biologics for patients. Its integrated drug creation platform is designed to improve upon traditional biologic drug discovery by using AI to simultaneously optimize multiple drug characteristics that may be important to development and therapeutic benefit.